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November 2013

Transaction Background

Established in 1998 by Christine Walker and Phil Georgiadis as a 50/50 joint venture with M&C Saatchi, Walker Media is one of the leading UK media agencies with annual billings in 2012 of approximately £240 million. It has an extensive list of longstanding relationships with blue chip clients including Marks & Spencer, Dixons Group, KFC, Halfords and Weetabix.

Following the transaction, Walker Media will become part of the ZenithOptimedia Group, owned by Publicis. It will remain as a separate agency in the UK, and will be a key cornerstone of a new global media network that will sit within the ZenithOptimedia Group. The new ZenithOptimedia Group network will be launched in 2014.

The transaction values Walker Media at £48 million with M&C Saatchi retaining at 24.9% stake in the business.

Our Role

Clarity was the sole corporate finance advisor to the Board of M&C Saatchi on the transaction, advising them on all aspects of the deal including pricing, structure and deal strategy.

Clarity led negotiations with Publicis and their advisors and was responsible for the overall transaction including liaising with multiple advisors, managing due diligence and ultimately ensuring an optimal outcome was reached.

“Clarity did an excellent job for us. Getting the deal over the line required both cast-iron technical capabilities as well as highly effective communication and negotiation skills. Their advice was always straightforward and to the point. They are a real pleasure to work with and the outcome is a great result for all parties involved.”

David Kershaw
CEO, M&C Saatchi

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